Postman, the enterprise tech startup known for its API development and workflow solutions, has recently announced the acquisition of Orbit, a community-focused SaaS platform. The terms of the deal were not disclosed. The acquisition aims to bolster Postman’s Public API Network and expand its API offerings by leveraging Orbit’s capabilities and distribution channels.
The announcement was made by Abhinav Asthana, the co-founder and CEO of Postman, in a post on X. Asthana expressed his excitement about the acquisition, stating, “We are announcing today that Postman has acquired Orbit to scale our Public API Network to the next level. Excited to welcome the Orbit team to Postman!”
Postman plans to integrate Orbit’s community features into its Public API Network, enabling active collaboration between publishers and consumers. This integration will allow API distributors to grow their communities, increase API usage, and receive direct feedback from users on the network. By leveraging Orbit’s technology and expertise, Postman aims to enhance its existing offerings and provide a more comprehensive platform for API development and distribution.
Asthana emphasized the significance of the acquisition, stating, “As we expand the capabilities of the Postman API Network, it will become a primary channel for growth and distribution for API builders. And for developers, it’ll be the first place they turn to for finding, evaluating, and deploying APIs. Bringing in the Orbit team is an important step on that journey.”
Patrick Woods, the co-founder and CEO of Orbit, also expressed his enthusiasm about joining forces with Postman. He recognized the immense potential of Postman’s developer community-building opportunity and stated, “After getting to know the Postman team and platform, we realized that Postman is the single biggest developer community-building opportunity on the planet right now, so naturally it’s been exciting to join forces.”
Postman, founded in 2014, has established itself as a leading enterprise tech platform for API development. Its products enable companies to iterate on API development, extend API workflows, and stay updated with API changes across their organizations. With a user base of over 3 crore developers and serving more than 5 lakh organizations globally, Postman has become a trusted solution for businesses looking to streamline their API processes.
The company has received significant backing from renowned investors, including Battery Ventures, Coatue, CRV, Insight Partners, and Nexus Venture Partners. In its most recent funding round in 2021, Postman raised $225 million, valuing the company at a staggering $5.6 billion.
On the other hand, Orbit, founded in 2019 by Patrick Woods, focuses on helping developer companies manage and grow their communities across various platforms, including forums and social media channels. The platform offers insights, automations, and engagement capabilities to facilitate community building and foster collaboration among developers.
Orbit has garnered support from prominent investors such as Andreessen Horowitz, Coatue, and Heavybit, among others. The company’s expertise in community management and engagement aligns well with Postman’s vision to create a robust developer ecosystem through its Public API Network.
The acquisition of Orbit comes at a time when India’s SaaS (Software as a Service) industry is gaining significant traction on the global stage. Indian enterprise tech platforms have been successful in developing world-class products, leveraging the country’s high-quality talent pool and cost-effective resources. Despite the challenges posed by the funding winter in the Indian startup ecosystem, the SaaS sector has continued to attract substantial investments.
According to reports, Indian SaaS startups have raised over $15 billion since 2014. In 2023 alone, the sector secured $1.3 billion across 157 deals, including several mega funding rounds exceeding $100 million. The Indian SaaS market was valued at $13 billion in 2022 and is projected to reach $25 billion by 2025, indicating significant growth potential.
Postman’s acquisition of Orbit reflects the company’s commitment to expanding its offerings and strengthening its position in the API development and distribution space. By integrating Orbit’s community-focused features into its Public API Network, Postman aims to provide a comprehensive platform for developers to collaborate, discover, and deploy APIs. With its extensive user base and strategic acquisitions, Postman is well-positioned to capitalize on the growing demand for API solutions and drive innovation in the enterprise tech sector.